Would appreciate if anyone could advise about this company "Promiseland Independent"?

Would appreciate if anyone could advise about this company "Promiseland Independent", that is selling retirement planning product to my friend?
Product specifics would only be known next week when he meets them. Just want to be prepared when we meet their representative next Monday.
They said it is around 8% guaranteed and protected. Their products are licensed by MAS. http://promiseland.com.sg/index.php/

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Daniel Lee (CFP®)

07 Jun 2019

Independent Wealth Management Consultant at Promiseland Independent Pte Ltd

Promiseland is an IFA firm and as such, they do not carry any products of their own. Instead, they are a distributor for more than over 40+ financial institutions ranging from insurance companies, banks and investment firms.

While the company is around for quite some time, IMO the company itself is really just like other IFA firms which behaves like the middle man for the IFA representatives that's rendering the financial advice to consumers. At the end of the day, given that IFA firms have the same level of access to the financial markets, it is the quality of planning and advice that the individual advisor renders that matters and less so about the company and products.

Within the company itself, you will find people with different expertise, some choosing to specialize in insurance only while others choosing to focus on investments. Very rarely you will find individuals who are willing to spent the time and effort to do full planning which is similar to the level of advice and service that the high net worth enjoys in the private banking sector.

Bottomline: rather than focusing on the product, you should find out more about the advisor's philiosphy and rationale for recommending the retirement planning product and how does it value add to your friend's retirement plan. Why prioritize product A over product B? Why are you looking at this category of products (annuity) rather than constructing an investment portfolio (dividend strategy) to provide for his retirement needs? These are some of the more important question that i would suggest you find out!

disclaimer: I'm a representative of promiseland independent. So if there's anything you would like to clarify about the company you can just ask me directly.

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